Primex Corporation (PRMX): Bullish Enough to Break the Resistance at 4.80?

Primex Corporation (PRMX) has continued its ascent after it revealed my buy signal last 4 April 2018. A buy signal was spotted after the MACD closed above the signal line and the price closed above the 10-day Simple Moving Average (SMA) with conviction. Thanks to its towering volume on that day.

PRMX stumbled the next day (5 April 2018). But due to the popular belief that the price isn’t likely to continue to fall if the price is bearish but volume is thin, I snubbed the bearish price action last April 5th and kept my buying stance.

PRMX is still moving above its 10SMA. My capital should be protected and my gains preserved with my trailing stop-loss strategy.

PRMX is already overbought on the Stochastic Daily. It may or may not break out above the resistance at 4.80, but everything should be fine when a trailing stop-loss is used. Support is at 3.87.

Volume

PRMX has an erratic volume fluctuation in the past 30-day trading period. It needs to register a consistent volume above its 30-day trading period to build a stronger conviction to pierce the resistance at 4.80 with ease.

Price-Volume Distribution

The intraday-high at 4.69 may act as an intraday support or resistance by the next trading day. Watch out for the 4.60-4.69 range in the first 15 to 30 minutes of trading tomorrow.

Top 10 Players Sentiment

Participants with a 100% Buying and Selling Activity as of Apr-13-2018 at 03:30PM:

5 out of 40 participants or 12.50% of all participants registered a 100% BUYING activity
18 out of 40 participants or 45.00% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 4.5713
Top 10 Players’ Selling Average: 4.5553

The psychological average price of today’s traders on PRMX is within the 4.55-4.57 range.

Foreign Fund Flow

PRMX is still on a Net Foreign Selling status in the past 30-day trading period.

Risk Level

PRMX is still lying inside the moderate-risk level.

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Jaycee De Guzman

Founder and CEO at Equilyst Analytics

Experience the expertise of Jaycee De Guzman, the brain of Equilyst Analytics, renowned for his unique data analysis. He is a computer scientist and a self-taught digital marketing strategist and agriculturist. Since Equilyst Analytics’ founding in 2012, over 10,000 local and foreign clients have consulted with Jaycee de Guzman on crypto and stock investments.

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